February 15, 2017 / 12:38 PM / a year ago

US STOCKS-Futures flat, digesting record run and before data blast

* Futures: Dow up 19 pts, S&P down 1.25 pts, Nasdaq down 0.25 pts

By Yashaswini Swamynathan

Feb 15 (Reuters) - U.S. stock index futures were little changed on Wednesday, ahead of a blast of economic data and a day after Federal Reserve Chair Janet Yellen painted a largely upbeat picture of the economy.

* Yellen said on Tuesday, before the U.S. Senate Banking Committee, that delaying interest rate hikes would be unwise, but did not indicate when the Fed would raise rates.

* Her testimony before the House Financial Services Committee on Wednesday will be scrutinized for further clues on when the central bank might pull the trigger.

* Traders have priced in very little chances of a rate hike at the Fed’s March meeting. However, some Fed officials have said it would be prudent to move sooner than later.

* Three Fed presidents, including William Dudley, are scheduled to make speeches on Wednesday and their comments will be closely assessed for further clarity on the opinion of policymakers.

* Key economic data on tap include reports on monthly retail sales and on consumer prices at 8:30 a.m. ET (1330 GMT). Data on industrial output for January is due at 9:15 a.m. ET.

* Wall Street’s main indexes have closed at record highs for the past four sessions, sparked by President Donald Trump’s promise on Thursday of a major tax announcement and fueled by Yellen’s comments.

* World stocks also gained on Yellen’s remarks. The dollar rose for the 11th straight session and hit a near four-week high. Prices of safe haven gold fell.

* Among stocks, Pepsi inched up 0.22 percent to $10 in light premarket trading after the beverage maker reported a better-than-expected quarterly profit.

* Dow component Procter & Gamble rose 2.5 percent to $90.10 after activist investor Trian Fund disclosed a $3.5 billion stake in the consumer products company.

* Fortress Investment surged 28 percent to $7.95 after Japan’s SoftBank agreed to buy the company for $3.3 billion.

* Watchmaker Fossil dropped 18.4 percent to $18.65 after posting fourth-quarter revenue that missed analysts’ expectations.

Futures snapshot at 7:00 a.m. EDT:

* Dow e-minis were up 19 points, or 0.09 percent, with 21,246 contracts changing hands.

* S&P 500 e-minis were down 1.25 points, or 0.05 percent, with 75,078 contracts traded.

* Nasdaq 100 e-minis were down 0.25 points, or flat on volume of 16,676 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Savio D’Souza)

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